Advertisement
retirement

North Dakota: #4 Best State to Retire in 2018

North Dakota ranked a surprising fourth in the nation on our list of best states for retirees, based on health- and finance-related factors.

If the decision on where to retire came down to climate alone, we'd all live in Florida or Arizona. But there's more to retirement than sunshine and warm temperatures. Top of the list: Finding a place that fits your budget. We ranked all 50 states for retirement based on several financial factors, figuring that the best states for retirees will offer reasonable living costs and light tax burdens, as well as affordable health care options. We also favored states that are economically healthy and home to fit, active and relatively prosperous residents age 65 and over. After crunching all of the numbers, North Dakota ranked fourth on our list of the best states for retirement. Yes, we were surprised too. See for yourself why the Peace Garden State might appeal to the right retirees.

North Dakota: #4 Best State for Retirement

Population: 736,162

Advertisement - Article continues below

Share of population 65+: 14.2% (U.S.: 14.5%)

Cost of living: 1% above U.S. average

Average income for 65+ households: $46,763 (U.S.: $53,799)

Average health care costs for a retired couple: Below average at $414,455 (U.S.: $423,523)

Tax rating for retirees: Tax Friendly

Cross the border from South Dakota, our #1 state for retirement, and you'll find many of the same benefits: North Dakota offers retirees affordable living costs and overall low taxes. Unfortunately, retirement income, including Social Security benefits, gets no tax break in the Peace Garden State. But income taxes are so low—ranging from 1.1% to 2.9%—that it's still considered tax friendly. Plus, the state ranks second-highest for fiscal soundness, indicating that the economic health is stable enough to sustain a friendly tax environment.

Advertisement
Advertisement - Article continues below
Advertisement

Most Popular

HSAs Get Even Better
Financial Planning

HSAs Get Even Better

Workers have more options with flexible spending accounts, too.
July 2, 2020
Find a Great Place to Retire
happy retirement

Find a Great Place to Retire

Our cities provide plenty of space to spread out without skimping on health care or other amenities.
July 2, 2020
What Are the Income Tax Brackets for 2020 vs. 2019?
tax brackets

What Are the Income Tax Brackets for 2020 vs. 2019?

The IRS unveiled the 2020 tax brackets, and it's never too early to start planning to minimize your future tax bill.
June 20, 2020

Recommended

Find a Great Place to Retire
happy retirement

Find a Great Place to Retire

Our cities provide plenty of space to spread out without skimping on health care or other amenities.
July 2, 2020
Searching for the Perfect Place to Retire
Empty Nesters

Searching for the Perfect Place to Retire

We home in on two places with less traffic and lower costs. 
July 2, 2020
Hail to Your Finances, Regardless of Who Wins Presidency
retirement planning

Hail to Your Finances, Regardless of Who Wins Presidency

Don’t try to navigate your investment choices based on election uncertainty. And don’t wait to find out who wins in November to make financial decisio…
June 30, 2020
Resources for alternative forms of transportation needed by many older adults
retirement

Resources for alternative forms of transportation needed by many older adults

For many older adults, having an alternative mode of transportation may be the difference between independence and social isolation.
June 29, 2020